How to Quit My Job and Start My Own Business

Today I’ll answer your question, “How to quit my job and start my own business”

The thought of having a job and starting your own business can be very exciting and simultaneously a little overwhelming.

A lot of people ask, “Should I quit my job to become self-employed?” and “How can I quit my job and still make money?”

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How to Quit My Job and Start My Own Business:

Look Before You Leap

Rule #1 – Relax, don’t quit your job! You don’t know what you don’t know.
Rule #2 – Re-read rule number 1.

You can find newspapers, volumes of blogs on the internet, published books, YouTube videos, teachers, and professors, all ready to give you advice about quitting your job.

Dozens of information providers, some on late-night television and others visiting the universities or offering apprenticeships, are all talking the same way – riches are on the horizon.

How to Quit My Job and Start My Own Business:

Know What You Are Getting Into

Before I go further, I must tell you, I have dozens of people come to me and say, “Quitting my full-time job was one of the worst decisions of my life.”

I am not going to sugarcoat being in your own business; I have personally worked and watched dozens of newcomers and would-be entrepreneurs quit a 40-hour-a-week job to go home and work 60 hours a week and not make money. It is not easy.

Just so you know, not everyone succeeds in business. However, I am not trying to scare you away.

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How to Quit My Job and Start My Own Business:

The Failure Rate of New Small Businesses

The Small Business Administration (SBA) is a division of the United States government. Congress funded the SBA to help guide newcomers and wannabe entrepreneurs, and the SBA loans money and gives small business advice.

The SBA keeps records, and according to those records, if 100 businesses start-up and open their doors today – 80% of the startups will fail; they will close, go bankrupt, or otherwise shut down in the first five years. That is an 80% failure rate.

How to Quit My Job and Start My Own Business:
The Reality of a New Start-Up Businesses

That means 20% remain, and of the 20% that survived, 80% of those survivors will fail in the next 5 years. The reality of a start-up business is a 96% failure rate.

So let’s take a step backwards…

Let’s review rule #1. Don’t quit your job! And, no joking around, rule #2 is re-read rule #1. I personally can assure you, business teaches all who enter some tough lessons. I am a solutions guy, and that is where we are going from here.

How to Quit My Job and Start My Own Business:

Ask Yourself These Questions

Do you have skills that are transferable from your current job or profession? Do you have a trade or something special, an in-demand skill of some kind? Are you going to create and manufacture a product? Or are you going to be a service business?

Products take time to create and money to manufacture. Service businesses mean you’ll be selling your time in most instances.

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How to Quit My Job and Start My Own Business:
Generating Revenue

Now, answer the big question which is – how will you generate revenue?

Entrepreneurs and freelancers make terrible decisions because they have no idea how to generate revenue.

When you have a salary coming to you the same day of every month, payroll looks very easy. Let me be the first to tell you, it is not easy.

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How to Quit My Job and Start My Own Business:

My Business

I’m Ted Thomas, and for the past 30 years I have been an entrepreneur and manage my business from a small office in my home. Just because the business is small doesn’t mean the gross revenue is small.

I will give you details about a business that you could learn step by step, and once you have the process, you could earn $25,000 – $50,000 on each transaction. Additionally, you would not need a huge office and many helper employees.

How to Quit My Job and Start My Own Business:

Creating Value

If you’ve never been a freelancer or run a business, you will quickly learn that generating money works differently for the entrepreneur or freelancer than having a full-time job working for someone else.

At the job you show up, do what you are told, and get paid. In a business, you must create value. There is no one to pay your salary.

In business, you must create, build, and solve other people’s problems. You must serve others and your product and service must create value for the clients, otherwise, they won’t pay you!

How to Quit My Job and Start My Own Business:

Alternative Real Estate

Fortunately for me, 30 years ago I discovered a business where I could buy low and sell at a much higher price than I purchased. The business is very profitable for those who understand the concept of creating value and basic marketing.

The business I discovered was over 200-years old, and for some reason I overlooked what was very obvious. The business was real estate, not traditional real estate, but a subset of real estate. It’s called tax liens and tax deeds.

When property owners fail to pay the required property tax, this tax default creates many major problems for the local county, which needs the tax revenue. If the county can not collect property taxes the county could enter bankruptcy.

How to Quit My Job and Start My Own Business:
Huge Discounts at Tax Defaulted Property Auctions

The state legislature in all 50 states has laws requiring property owners to pay the local county property taxes.

If the property owner fails to pay the taxes, he or she loses the right to own the property. Then the county treasurer will confiscate it and ultimately sell the property at a public auction to gain the revenue to pay the taxes.

In many instances, the starting bid at the auction will be only the back delinquent taxes which could be 5 or 10 cents on the dollar.

The county treasurer will discount the property as much as 60%, 70%, or 80% or more below the tax assessed value.

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How to Quit My Job and Start My Own Business:
Tax Delinquent Property Sold Nationwide

Savvy investors purchase at bargain prices to sell, live in, rent, or fix up these used and abused properties.

The properties are not shiny and new. Some are junk. Do not buy junk. Some are ready to move into, you get to choose.

Nationwide all 3,000+ counties will have tax-defaulted auctions. Low population counties will have dozens of properties that they will be selling for 10 cents, 20 cents, and 30 cents on the dollar.

Large population counties will have hundreds or even thousands of tax defaulted properties all with low starting prices.

How to Quit My Job and Start My Own Business:
Mortgage-Free Real Estate for Pennies on the Dollar

There is another big plus for those buyers at auction.

The county treasurer is authorized by the state legislator to cancel the mortgage or deed of trust loan, so tax delinquent properties are sold with no mortgage or trust deed loan.

So, starting bids could be as low as the back taxes, and you get the property mortgage-free.

If you’d like to know more about tax delinquent property investing, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.

How to Quit My Job and Start My Own Business 4You can learn how to reap the huge rewards from tax lien and tax defaulted property investing! Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!


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